Deutsche confirms new MENA head

Published: December 13, 2010

Aram replaces Henry Azzam in Middle East hot seat.

Deutsche Bank has named Ashok Aram as the chief executive of its Middle East and North Africa (MENA) operations.

Aram is now responsible for developing the bank’s operations in the region, maintaining its corporate governance structure and implementing its growth strategy.

He reports to Jürgen Fitschen, a member of Deutsche’s management board, who expects the new chief executive to expand the bank across the MENA region due to his track record in its corporate and investment banking teams. “We continue to invest in our global franchise and our leading presence in the Middle East region to serve the increasingly international and sophisticated demands of our clients,” he says.

Aram replaces Henry Azzam who becomes the bank’s non-executive chairman for MENA after three years in the role. He will maintain close relationships with government bodies and regulators and increase awareness of the bank’s activities in the region.

Fitschen paid tribute to the former chief executive. “Henry played an instrumental role in growing our franchise and we have seen our suite of services and our presence in the region expand under his leadership.”

In MENA, Deutsche employs some 200 people and offers investment banking services, wealth management, asset management and global transaction banking services.